A resident economist’s perspective on linear parks · Objectives •Parks & Gardens strives to...
Transcript of A resident economist’s perspective on linear parks · Objectives •Parks & Gardens strives to...
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A resident economist’s
perspective on linear parks
Adam T. Jones
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Objectives
• Parks & Gardens strives to maintain and
operate parks and facilities that enrich the lives
of the community and promote an overall
healthier lifestyle
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May 16, 2019 Star News
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Participation in Physical Activity
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Fit and
Outdoors!
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Additional Opportunities• Disconnectedness
• Younger population
• Social media
• “Parental fears”
• Older population
• Cul-de-sac streets
• “The American Dream”
• Community Development
• Maximize property values & QOL
• Minimize health and mental illness
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Participation
0
10
20
30
40
50
60
70
80
FitnessSports
IndividualSports
OutdoorSports
RacquetSports
TeamSports
Participation By Generation
Gen Z Millenials Gen X Boomers
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• Participation
Declines
with Age
• Team
Sports
• Fitness and
outdoor
sports hold
up the best
28.4%
Decline
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Reconnecting through
linear parks
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Proximity and Real Estate Values
• If parks are desirable Buyers willing to pay
more for proximate real estate
• “Close” proximity ~ 20% premium
• (Crompton 2005)
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“Close”
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“Close” looks
to be walking
distance
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More Small Parks More “Close”
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The Value of Linear Parks
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Summer Rest Trail Ogden Park
2.3 acres
~37 homes border
~16 homes per park acre
115 acres
~80 homes border
~0.7 homes per park acre
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Summer Rest Trail
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Summer Rest Trail
~7300 ft Frontage
Square 2.27 Acres
~1260 ft frontage
Summer Rest Trail
0.7 Miles
2.27 Acres
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Golf Courses as Analogous
• Golf courses similar to parks
• Most residents on golf course do not play golf
• Certainly don’t walk out and play
• Demographics and tastes changing
• Golf courses at risk
• Source of land for trails
• Potential to partner with communities through Tax
Increment Financing?
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Justification for Courses Parks
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Linear Park Opportunities
• Abandoned Rail
• Wilmington Rail Trail
• Rail Realignment
• Utility easements
• Existing Right of Way
• Drainage corridors (see Houston)
• Golf Courses
• Developers!!!
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Low Hanging Fruit
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Small Project = Large Impact
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Participants
Gen Z22%
Millenials29%Gen X
19%
Boomers30%
Population
Gen Z Millenials Gen X Boomers
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0
20
40
60
80
100
120
140
Team Outdoor Racquet
Part
icip
ants
(th
ou
san
ds)
Number of EstimatedNHC Participants
Gen Z Millenials Gen X Boomers
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Thank you.